ForgeRock, Inc. (NYSE:FORG) Expected to Post Earnings of -$0.19 Per Share

Brokerages expect ForgeRock, Inc. (NYSE:FORGGet Rating) to report earnings per share of ($0.19) for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for ForgeRock’s earnings, with the highest EPS estimate coming in at ($0.09) and the lowest estimate coming in at ($0.22). The business is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that ForgeRock will report full-year earnings of ($0.41) per share for the current year, with EPS estimates ranging from ($0.43) to ($0.36). For the next year, analysts expect that the firm will post earnings of ($0.15) per share, with EPS estimates ranging from ($0.23) to ($0.06). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow ForgeRock.

ForgeRock (NYSE:FORGGet Rating) last announced its quarterly earnings results on Wednesday, May 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.05.

Several analysts have weighed in on the company. Zacks Investment Research raised ForgeRock from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. KeyCorp assumed coverage on ForgeRock in a report on Monday, April 4th. They issued a “sector weight” rating on the stock. Morgan Stanley decreased their target price on ForgeRock from $27.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 2nd. BTIG Research decreased their target price on ForgeRock from $40.00 to $24.00 in a report on Monday, February 14th. Finally, Cowen decreased their target price on ForgeRock from $45.00 to $38.00 in a report on Wednesday, March 2nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, ForgeRock currently has an average rating of “Buy” and an average price target of $26.56.

In related news, EVP Peter M. Barker sold 2,000 shares of ForgeRock stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $16.75, for a total transaction of $33,500.00. Following the completion of the sale, the executive vice president now owns 121,654 shares of the company’s stock, valued at $2,037,704.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 46.07% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new stake in shares of ForgeRock in the third quarter worth about $49,000. TD Asset Management Inc. acquired a new stake in shares of ForgeRock in the third quarter worth about $361,000. BlackRock Inc. acquired a new stake in shares of ForgeRock in the third quarter worth about $19,466,000. Goldman Sachs Group Inc. acquired a new stake in shares of ForgeRock in the third quarter worth about $4,088,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of ForgeRock in the third quarter worth about $376,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE FORG traded up $1.77 during mid-day trading on Friday, hitting $19.82. The company had a trading volume of 291,475 shares, compared to its average volume of 538,727. ForgeRock has a 12 month low of $11.94 and a 12 month high of $48.88. The company has a current ratio of 4.78, a quick ratio of 4.78 and a debt-to-equity ratio of 0.12. The firm’s 50 day simple moving average is $19.86 and its two-hundred day simple moving average is $20.36.

About ForgeRock (Get Rating)

ForgeRock, Inc, together with its subsidiaries, operates a digital identity platform to secure, manage, and govern the identities of customers, employees, partners, application programing interfaces (APIs), microservices, devices, and the Internet of things worldwide. It offers identity management products to automate onboarding/registration and progressive profiling, identity lifecycle and relationship management, identity provisioning and synchronization, user self-service, personalization, delegation, and privacy and consent management.

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Earnings History and Estimates for ForgeRock (NYSE:FORG)

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